Thanks David. A lot of useful and practical insights. I really like the idea of being on the email marketing list of a competitor, it made me laugh out loud! A very good idea that would yield priceless information.
Fantastic video my friend. I especially like your summation point that small biz owners (if they're wise) won't transition FULLY the business to a general manager. I've witnessed the destruction and chaos this causes the owner and the business. Small biz ownership is a contact sport at least in the beginning if the owner has never owned a business before until leadership and management skills are developed. And the business operating capacity from a cash flow perspective becomes increasingly more consistent 👍
Totally! In a recent conversation I heard, a guy pointed out that a business can be destroyed in 90 days with the right series of bad decisions. These are fragile systems.
Lots of solid info. I am actively searching for a business and I have noticed many brokers provide the financials up to 2023. Is this typical? It's as if 2024 is irrelevant. I don't get it.
It's pretty common to only include up to the last full fiscal year. YTD information is often not prepared in the same way as full year end stuff. ie year end adjustments, etc. Especially if the business is seasonal, YTD info can be misleading.
